Meyer Encouraged About The Future Of The Farm Economy
“We’re forecasting farm income to be pretty strong at USDA”
While USDA Chief Economist Seth Meyer sounded fairly bullish this week, he noted there are underlying concerns, such as the future of commodity and input prices. Additional concerns he noted are expected and sudden.
“Issues and things we are used to in agriculture, like short crops, the vagary of weather, but you can also see other things like the war in Ukraine that are completely man made, but are having a large impact on the agriculture sector.”
But Meyer is encouraged by the demand for U.S. food and farm goods overseas, specifically to China. He noted that despites everything taking place across the globe, international demand for American products has been “pretty good” for the past two years.
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